Athman Gold buyers, here is your clear guide for Monday August 3, the start of a very important week. Gold is trading near $4,070 per ounce, opening the week slightly higher after the US paused planned airstrikes on Iran and President Trump announced talks would begin this afternoon. Prices remain attractive, and this week’s events — peace talks and Friday’s US jobs report — could set the direction for weeks to come. Here is what it all means at the counter.
Today’s prices:
24K: ~$130.75/gram | 22K: ~$119.85/gram | 21K: ~$114.40/gram | 18K: ~$98.05/gram
Savings versus January all-time high ($5,597/oz):
24K: saving about $49.20/gram | On a 20g piece: about $984 saved | On a 50g necklace: about $2,460 saved
These remain among the most attractive gram prices of the year.
What happened over the weekend? The US called off major airstrikes planned for Sunday night after regional allies asked for de-escalation. President Trump says talks with Iran begin today and that a deal on the Strait of Hormuz is close. Iran denies it is negotiating with the US — but importantly, Iran is working with Oman on a safe shipping route through Hormuz, and ships have actually started moving through it. Oil prices fell on the news.
What does this mean for gold prices? Two things pull in opposite directions. Falling oil reduces inflation, which could eventually mean lower interest rates — good for gold. But less conflict also means less safe-haven buying — which limits gold. So gold opened higher and then settled. The big picture: if peace truly holds, many analysts expect gold to climb toward $4,500 to $4,900 by year-end as the Fed relaxes.
What should buyers do?
For weddings and gifts: prices remain excellent — a 50-gram necklace is roughly $2,460 cheaper than at January’s peak. With analysts seeing higher prices if peace holds, buying at today’s levels is sensible.
For long-term savers: central banks bought a net 41 tonnes in May, and 89% of central bank managers expect official gold holdings to keep rising. Even cautious banks see $5,000 gold once the Fed stops tightening.
For those who can wait: Friday’s US jobs report is the big one. A weak report could lift gold; a strong one could dip it toward $4,000 — which would be a buying opportunity. Buying in stages through the week is a smart approach.
Watch this week: Manufacturing data today, jobs previews Tuesday through Thursday, and the crucial July jobs report on Friday August 7. Also watch whether the Iran talks actually happen — and whether ships keep moving through Hormuz.
Important: The market is volatile. Please confirm the live price with us before purchasing.
Current prices: 24K — $130.75/gram | 22K — $119.85/gram | 21K — $114.40/gram
All prices USD. Monday August 3 session. Volatile — confirm live price before purchase.
